Maryland-based Global Medical REIT (GMRE) has wrapped up its $94 million acquisition of four inpatient rehabilitation facilities from CNL Healthcare Properties’ affiliates.

The acquired inpatient rehabilitation facilities put together comprises 207,204sft of space and under long-term triple-net leases is leased to major healthcare providers. As of now, all four leases have a weighted average remaining lease term of around 8.3 years and are expected to generate total annual rent of $6.9 million.

Jeffrey Busch – CEO, Chairman & President of Global Medical REIT, commenting on the acquisition of the inpatient rehabilitation facilities, said: “This acquisition is a testament to our disciplined underwriting and the value creation we are able to achieve through our net-lease medical portfolio. We believe the rent generated by this acquisition, in combination with the underlying cash flows generated through our existing real estate portfolio, is essential to creating a sustainable dividend and long-term stockholder value.

“In addition, we are pleased with the accordion closing and appreciate the support our lenders provide to our long-term business and investment strategy.”